Hestia Insight Inc. Issues Shareholder Letter
Las Vegas, NV - (NewMediaWire) - July 13, 2021 - Hestia Insight Inc. (OTC Markets: HSTA):
Dear Hestia Insight Inc. Shareholders:
On August 6, 2020, Hestia Insight Inc. (OTC Markets: HSTA) (“Hestia” and the “Company”) became a U.S. Securities and Exchange Commission (“SEC”) reporting company, and, on January 28, 2021, Hestia received a Notice of Qualification from the SEC to raise capital in a Regulation A+ public offering.
Hestia plans to uplist to the OTCQB trading platform in the near term once certain OTC Markets qualifications are met by the Company, and, subsequent to the completion of the Company’s Regulation A+ public offering in whole or in part, the Company intends to apply for a Nasdaq Capital Market (“Nasdaq”) listing upon meeting the Nasdaq’s financial and liquidity requirements.
Edward Lee, the Company’s Chief Executive Officer and Chairman stated, “Through the Company’s last two fiscal quarters, Hestia’s asset value has increased to $18,377,762, and our income has increased to $6,271,536. The Company’s revenue has decreased to $18,500.” Mr. Lee continued, “Like so many U.S. businesses, we were negatively impacted by COVID-19. However, with the widespread availability of effective vaccines and with safe travel resuming, we are optimistic that previously halted discussions with potential business partners will now resume and prove fruitful. We also plan to strengthen our Board of Directors and our management team to allow us to operate more efficiently and successfully, and we continue to work diligently to identify attractive potential M&A targets. As a Company, our goal is to bring innovation to the healthcare sector with a focus on the importance of healthy living, and to provide Hestia with stable revenue growth.”
About Hestia Insight Inc.
Hestia is an advisory Company focused primarily on the Healthcare and Biotech sectors. Hestia also provides seed capital and mezzanine financing to its clients. Hestia intends to make strategic acquisitions of established companies within the healthcare industry. In addition, the Company provides its clients with sales and marketing guidance and capital markets advisory services to increase the success of its clients.
Hestia is subject to the information and reporting requirements of the Securities Exchange Act of 1934, as amended, and, in accordance with the Securities Exchange Act, the Company files periodic reports, documents, and other information with the SEC relating to our business, financial statements, and other matters. These filings are available to the public on the Commission’s website at http://www.sec.gov
Safe Harbor Provision
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby.All statements other than statements of historical fact contained herein, including, without limitation, statements regarding the Company's future financial position, business strategy, plans and objectives, growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation thereon or similar terminology or expressions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors set forth in the Company's Annual Report on Form 10-K for the year ended November 31, 2020 and its other filings and submissions with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements.
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